Close this search box.


The Kingdom and China sign 21 investment agreements

Thursday 17/6/1438 AH corresponding to 03/16/2017 AD, SPA

Riyadh and Beijing signed 21 cooperation agreements and granting investment licenses to Chinese companies in the Kingdom, at the conclusion of the Saudi-Chinese Investment Forum.

The forum concluded its activities in the capital, Beijing, today, which is organized by the Saudi Trade and Investment System in partnership with the Council of Chambers of Commerce, on the sidelines of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud’s official visit to China.

The forum shed light on the investment opportunities in the Kingdom’s Vision 2030, in addition to discussing strengthening cooperation in various sectors, and enhancing the volume of trade and investment exchange between the two friendly countries in the presence and participation of officials and businessmen.

During the forum, the trade and investment system represented by the General Investment Authority of the Chinese side presented the goals of the Kingdom’s Vision 2030, and investment opportunities in various sectors. On the sidelines of the forum, a meeting of the Saudi-Chinese Business Council was held.

On the sidelines of the forum, 21 investment agreements were signed between the private sectors of the two countries in the fields of investment, energy, petrochemicals, contracting and communications technology, and in the areas of exploring strategic cooperation and investment opportunities in the field of refining, marketing and petrochemicals, Saudi Aramco and NORINCO.

Aramco signed another agreement with AEROSUN in the field of exploring investment opportunities in the Kingdom, engineering, designs, pipeline manufacturing, and research and development fields.

An agreement has also been signed between the Royal Commission for Jubail and Yanbu and PAN-ASIA to allocate a site for the Jazan Petrochemical Plant, with an investment size of 2 billion dollars.

The authority also signed two agreements with the Chinese company “Huawei” to establish an innovation center for smart city services and to establish a Huawei training center in Yanbu Industrial City.

Saudi companies have signed agreements with Chinese companies in the fields of 3D construction, information technology, renewable energy, mechanical engineering, and other fields.

The volume of trade exchange between the Kingdom and China in 2015 reached (184.467) billion riyals. Of which (92.398) billion riyals are imports from China and (92.069) billion riyals are Saudi exports to China.